Shares of Ceres, Inc. (CERE) are higher by nearly 298% – that’s not a typo – to $3.78 on Wednesday morning after announcing it was awarded a U.S. patent for its iCODE multi-gene trait development system, an innovative trait technology for corn, soybean, sorghum and other crops. The agricultural biotechnology company indicated that the patent award is a key milestone in its plan to further develop and license this technology to other crop companies and organizations.
Shares of SunEdison, Inc. (SUNE) are up more than 2% this morning after the company announced the successful syndication of the $280 million 7 year term loan facility of TerraForm Private Warehouse. SunEdison, the world’s largest renewable energy development firm, said the offering was oversubscribed.
Alibaba Group Holding Limited (BABA) shares were down $4.49 to $72.85 in pre-market trading Wednesday after the company reported its first quarter 2016 earnings results.
The China-based e-commerce giant posted earnings of $0.59 per share on revenues of $3.27 billion. Analysts were expecting EPS of $0.58 on revenues of $3.38 billion. Alibaba’s 28% increase in revenue year-over-year was the slowest since its IPO last September.
“We had a strong quarter and we continued to build the foundations for future growth,” stated Alibaba Group CEO Daniel Zhang in a statement.
Shares of Alibaba are down 25.59% since the beginning of the year.
Facebook (FB) — The social networking giant is said to be working on a Twitter (TWTR)-like app that lets publishers send mobile breaking news alerts to the masses, according to BI. The publication notes the app appears to be part of the company’s ‘Facebook For Work’ initiative.
Facebook, Inc. shares are down 1.58% to $92.14 in early trading.
Yahoo Inc. (YHOO) shares are down more than 5% in early trade Wednesday as Alibaba, in which the Web Portal holds a big stake, disappointed in its recent quarterly results.